Publications
Publications
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- All HBS Web
(7,146)
- Faculty Publications (2,281)
- December 2024 (Revised March 2025)
- Case
Tata Power and India's Energy Transition
By: Vikram S. Gandhi, Radhika Kak and Kairavi Dey
Tata Power stood at the forefront of India’s energy transition. The firm had a long history deeply intertwined with the country's development. As Mumbai’s power needs increased, Tata Power built out thermal assets across North, West, and East India. While thermal power... View Details
- 2024
- Working Paper
Charting (and Updating) the Path: A Bayesian Perspective on Entrepreneurial Learning
This chapter explores two distinct modes of entrepreneurial learning: assessing
venture viability and choosing between alternative development paths. It introduces
a framework for decomposing venture viability into technological feasibility, commercial
potential and... View Details
- November–December 2024
- Article
How to Avoid the Agility Trap
By: Jianwen Liao and Feng Zhu
Agility is all the rage in strategy circles these days. According to conventional wisdom, organizations should rapidly react to technological advances, new market dynamics, and shifting consumer preferences. But in practice this is nearly impossible to pull off,... View Details
- November 2024
- Case
FedEx Cyberattack (A): Navigating the NotPetya Storm
By: Hise Gibson, Frank Nagle, Alicia Dadlani and Martha Hostetter
In 2017, FedEx’s European division — acquired the year before for $5 billion — was hit by a devastating cyberattack that destroyed thousands of computers and business systems across several countries. Corporate Chief Information Officer Rob Carter put the company’s... View Details
- November 2024
- Supplement
FedEx Cyberattack (B): Reflections and Lessons
By: Hise Gibson, Frank Nagle, Alicia Dadlani and Martha Hostetter
Set in 2024, this (B) case provides an update to the (A) case (no. 625-049) about a devastating cyberattack that destroyed thousands of computers and business systems at FedEx’s European division in 2017. It describes lessons learned and changes made in the wake of the... View Details
- November 2024
- Case
Polish Agro: Where Do We Grow from Here?
By: Willy C. Shih, Lena Duchene and Daniela Beyersdorfer
By July 2024, Polish Agro had grown into one of Poland’s fastest-growing agribusinesses, with €230 million in revenue, 82 employees, and operations across Northern Poland. The company supported farmers with essential agricultural inputs like fertilizers and seeds,... View Details
Keywords: Plant-Based Agribusiness; Distribution; Volatility; Customer Focus and Relationships; Customer Value and Value Chain; Climate Change; Environmental Regulation; Profit; Trade; Digital Strategy; Innovation Strategy; Crisis Management; Growth and Development Strategy; Resource Allocation; Advertising; Brands and Branding; E-commerce; Business and Community Relations; Networks; Adaptation; Adoption; Competitive Advantage; Business Model; Health Pandemics; War; Agriculture and Agribusiness Industry; Europe; Poland
- 2024
- Working Paper
Scaling Core Earnings Measurement with Large Language Models
By: Matthew Shaffer and Charles CY Wang
We study the application of large language models (LLMs) to the estimation of core earnings, i.e., a firm's persistent profitability from its core business activities. This construct is central to investors' assessments of economic performance and valuations. However,... View Details
- 2024
- Working Paper
Climate Solutions, Transition Risk, and Stock Returns
By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim
Using large language models to measure firms' climate solution products and services, we find that high-climate solution firms exhibit lower stock returns and higher market valuation multiples. Their stock prices respond positively to events signaling increased demand... View Details
- November 2024 (Revised December 2024)
- Case
Moonfare and the Democratization of Private Equity
By: Victoria Ivashina and Srimayi Mylavarapu
Founded in 2016, Moonfare headquartered in Europe, was a pioneer in the “democratization” of private equity investments. Historically, private equity was accessible only to institutional investors like pension funds, endowments, sovereign wealth funds, and large family... View Details
- November 2024
- Teaching Note
Martine Rothblatt and United Therapeutics: A Series of Implausible Dreams
By: Debora L. Spar and Julia M. Comeau
Teaching Note for HBS Case No. 323-039. In 1990, satellite expert and Sirius XM founder Martine Rothblatt was determined to save the life of her seven-year-old daughter, Jenesis, who was diagnosed with a terminal illness called Pulmonary Arterial Hypertension (PAH). At... View Details
Keywords: Pharmaceutical Companies; Technological And Scientific Innovation; Organ Donation; Health Care and Treatment; Health Disorders; Innovation and Invention; Growth and Development Strategy; Product Development; Pharmaceutical Industry; Medical Devices and Supplies Industry; United States; District of Columbia
- November 2024
- Case
Ather Energy: The Future of Mobility
By: Shunyuan Zhang, Kannan Srinivasan and Malini Sen
Ather Energy, India’s third-largest electric scooter maker by volume, was founded in 2013. Five years later, the start-up launched its first electric scooter, Ather 450, which was powered by artificial intelligence (AI) and the Internet of Things (IoT), to navigate... View Details
Keywords: Energy Policy; Climate Change; Alternative Energy; Corporate Entrepreneurship; Transportation; Transformation; Green Technology; Technology Adoption; Communication Strategy; Marketing Strategy; Customer Focus and Relationships; Business Startups; Growth and Development Strategy; Brands and Branding; Product Launch; Product Positioning; Business Strategy; Segmentation; Asia; India
- 2024
- Working Paper
Catalysts for Climate Solutions: Corporate Responses to Venture Capital Financing of Climate-tech Startups
By: Shirley Lu, George Serafeim and Simon Xu
We study whether incumbent firms increase their product focus on climate solutions in response to venture capital (VC) financing of climate-tech startups. Using large language models to measure a firm's focus on climate solutions, we find that incumbents in similar... View Details
- October 2024
- Teaching Plan
Teamworks: Tackling a Forecasting Fumble
By: Lou Shipley and Stacy Straaberg
In late March 2018, Teamworks CEO Zach Maurides learned Q1 2018 sales were at risk for a large forecasting miss. Founded in 2004, Teamworks’s software application assisted support staff in messaging, scheduling, and sharing documents with collegiate and professional... View Details
Keywords: Acquisition; Business Growth and Maturation; Communication Strategy; Decisions; Forecasting and Prediction; Business Cycles; Technological Innovation; Sports; Growth and Development Strategy; Resource Allocation; Marketing; Sales; Business Strategy; Expansion; Technology Industry; Technology Industry; United States; North Carolina
- October 2024
- Case
Tonik
By: Andy Wu, Maliha Malek Quadir and Aticus Peterson
This case study examines Tonik, the first digital bank in the Philippines, as it navigates the challenges of scaling its lending operations and achieving profitability in an evolving fintech landscape. It explores Tonik's journey from its launch in 2018 to early 2024,... View Details
- 2025
- Working Paper
Generative AI and the Nature of Work
By: Manuel Hoffmann, Sam Boysel, Frank Nagle, Sida Peng and Kevin Xu
Recent advances in artificial intelligence (AI) technology demonstrate a considerable potential
to complement human capital intensive activities. While an emerging literature documents wide-ranging
productivity effects of AI, relatively little attention has been paid... View Details
- October 2024 (Revised November 2024)
- Case
SWEN Blue Ocean: Impact Investing Goes to Sea
By: Vikram S Gandhi and David Allen
In August 2023, SWEN Blue Ocean, a €170 million impact fund that invested in startups contributing to ocean sustainability, faced a critical investment decision. Part of SWEN Capital Partners, an €8 billion, Paris-based private equity fund, Blue Ocean was co-founded in... View Details
- October 2024
- Case
Reed Group and Succession in a Family Business: An Impossible Job to Fill?
By: Lauren H. Cohen and Tonia Labruyere
James Reed had taken over Reed Group, the recruitment and career services company his father had founded and built, in 1994. He was now reflecting on succession planning and other challenges that lay ahead: with no obvious choice among his family members, he needed to... View Details
- October 2024
- Course Overview Note
Risks, Opportunities, and Investments in the Era of Climate Change (ROICC)
By: George Serafeim
This course overview note introduces the course Risks, Opportunities, and Investments in the Era of Climate Change to students. View Details
- October 2024
- Supplement
Skills-First Hiring at IBM
By: Boris Groysberg and Sarah Mehta
A video supplement to accompany "Skills-First Hiring at IBM" (case no. 422-013) View Details
Keywords: Competency and Skills; Experience and Expertise; Talent and Talent Management; Human Resources; Employees; Recruitment; Retention; Selection and Staffing; Jobs and Positions; Job Design and Levels; Job Interviews; Society; Social Issues; Technology Industry; United States; New York (state, US)
- October 2024
- Article
Strategic Decision Making at Platform Transitions: The Case of Nokia (2010-2011).
By: Timo O. Vuori and Michael Tushman
We studied Nokia’s decision to adopt the Windows platform in 2011 to induce new theory on the emotional dynamics of incumbent firms’ strategic decision making at platform transitions. We find that platform companies’ entry into an established industry activates a... View Details